The bioinsecticides market, estimated at USD 1.16 billion in 2015, is projected to grow at a CAGR of 18.3%, to reach USD 3.18 billion by 2021. The market is driven by factors such as increasing level of pest attacks due to climatic change and rising biological technologies for pest control. The high growth potential in the Latin American region and untapped regions provides new growth opportunities for market players.“Soil treatment bioinsecticides mode of application led the market with the largest share in 2015”
On the basis of mode of application, the bioinsecticides market is led by the soil treatment segment, followed by seed treatment and foliar spray. The soil treatment application promotes seed germination, allows faster plant growth, provides more efficient use of moisture and nutrients, reduces erosion and crustation, and thus improves crop yields. It also helps to improve the quality of soil by means of adjusting the pH of the soil, improving nutrient quality, protecting the soil from weeds, pests, and harmful organisms.
“Liquid formulation led the mode of formulation segment of bioinsecticides market in 2015”
The liquid formulation segment dominated the bioinsecticides market in 2015, followed by the dry formulation. Liquid formulation of bioinsecticides is easy to handle, transport, and store. It is required in small amounts and show high efficiency levels, and also retains potency over fairly long time, due to which liquid formulation is more preferred than dry formulation.
“Brazil: The future of the bioinsecticides market”
There are a large number of local manufacturers and suppliers of bioinsecticide products in Brazil offering bioinsecticide products at very competitive prices. Along with high demand of bioinsecticide products in the domestic and neighboring markets, Brazilian manufacturers are increasingly exploring higher profitability and trade opportunities in western countries, especially in the North American and European regions. Brazil is likely to increase its market share in the next five years by competing with U.S, Germany, U.K., and other European countries, offering low cost organic solutions with wide applicability.
Brazil is expected to be the fastest-growing country-level market and accounted for the largest share in 2015.
Break-up of Primaries:
- By Company Type: Tier 1 – 50 %, Tier 2 – 20%, Tier 3 – 30%
- By Designation: C level – 28%, Director level – 22%, Others – 50%
- By Region: North America – 40%, Europe – 30%, Asia-Pacific – 21%, RoW – 9%
- Valent BioSciences Corporation (U.S.)
- E. I. du Pont de Nemours and Company (U.S.)
- Marrone Bio Innovations Inc. (U.S.)
- Novozymes A/S (Denmark)
- Syngenta AG (Switzerland)
- Bayer CropScience AG (Germany)
- Koppert B.V. (The Netherlands)
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